v3.26.3
Note 7 - Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2026
Notes Tables  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

 

 

2026

 

 

2025

 

Weighted-average expected life of stock options (in years)

 

 

6.0

 

 

 

7.5

 

Weighted-average risk free interest rate

 

 

3.98

%

 

 

4.50

%

Weighted-average annualized volatility

 

 

35.8

%

 

 

34.8

%

Weighted-average dividend yields

 

 

2.60

%

 

 

2.70

%

Weighted-average fair value of options granted during the nine months ended September 30, 2026

 

$

15.96

 

 

$

17.90

 

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

 

 

Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term in Years

 

 

Intrinsic Value

 

Options outstanding at January 1, 2025

 

 

131,847

 

 

$22.58

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(45,505)

 

 

22.64

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

(3,200)

 

 

22.19

 

 

 

 

 

 

 

 

 

Options outstanding at December 31, 2025

 

 

83,142

 

 

$22.56

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

(2,400)

 

$24.40

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(50,450)

 

 

23.13

 

 

 

 

 

 

 

 

 

Options outstanding at September 30, 2026

 

 

30,292

 

 

$21.45

 

 

 

1.1

 

 

$1,205,925

 

Options exercisable at September 30, 2026

 

 

30,292

 

 

$21.45

 

 

 

1.1

 

 

$1,205,925

 

 

 

Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term in Years

 

 

Intrinsic Value

 

Options outstanding at January 1, 2025

 

 

210,200

 

 

$32.55

 

 

 

 

 

 

 

 

 

Options granted

 

 

30,803

 

 

 

31.09

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

(21,980)

 

 

32.41

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(5,100)

 

 

31.36

 

 

 

 

 

 

 

 

 

Options outstanding at December 31, 2025

 

 

213,923

 

 

$32.38

 

 

 

 

 

 

 

 

 

Options granted

 

 

80,500

 

 

 

50.30

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

(11,160)

 

 

43.67

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(15,577)

 

 

31.70

 

 

 

 

 

 

 

 

 

Options outstanding at September 30, 2026

 

 

267,686

 

 

$37.34

 

 

 

7.1

 

 

$6,403,476

 

Options exercisable at September 30, 2026

 

 

126,786

 

 

$31.84

 

 

 

6.1

 

 

$3,730,050

 

Options expected to vest after September 30, 2026

 

 

140,900

 

 

$42.29

 

 

 

8.1

 

 

$2,369,725

 

Share-Based Payment Arrangement, Cost by Plan [Table Text Block]

 

 

2026

 

 

2025

 

    Fair value of options vested

 

$159,000

 

 

$191,000

 

Intrinsic value of options exercised

 

$131,000

 

 

$260,000

 

Cash received from option exercises

 

$81,000

 

 

$353,000

 

Tax benefit from option exercises

 

$8,000

 

 

$24,000

 

Compensation cost

 

$138,000

 

 

$93,000

 

Tax benefit associated with compensation cost

 

$9,000

 

 

$5,000

 

 

 

2026

 

 

2025

 

    Fair value of options vested

 

$332,000

 

 

$384,000

 

Intrinsic value of options exercised

 

$1,656,000

 

 

$874,000

 

Cash received from option exercises

 

$1,569,000

 

 

$936,000

 

Tax benefit from option exercises

 

$149,000

 

 

$43,000

 

Compensation cost

 

$389,000

 

 

$256,000

 

Tax benefit associated with compensation cost

 

$23,000

 

 

$14,000